Question 7 (4 points) (Estimated time allowance: 7 minutes) Gasoline cost $.10 per gallon in 1930. Over the next 60 years, the price rose at an average rate of 4.42% per year. Based on this information, what was the average price of a gallon of gas in 1990? $1.53 per gallon $2.65 per gallon $1.34 per gallon $2.75 per gallon Question 8 (4 points) (Estimated time allowance: 6 minutes) An investment promises a payoff of $232.25 one year from today. At a discount rate of 6% per year, what is the present value of this investment? $252.53 $232.25 $219.10 $195 Question 11 (4 points) Which of the following investments has a larger future value? A $100 investment earning 10% per year for 5 years or a $100 investment earning 5% per year for 10 years? An investment of $100 invested at 5% per year for 10 years because it has a future value of $161.05. An investment of $100 invested at 5% per year for 10 years because it has a future value of $162.89. An investment of $100 invested at 10% per year for 5 years because it has a future value of $162.89. An investment of $100 invested at 10% per year for 5 years because it has a future value of $161.05